Exhibit 11.1
66
Exhibit 11.1
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ALBEMARLE CORPORATION
COMPUTATION OF PRO FORMA EARNINGS PER SHARE
for the years ended December 31, 1998 and 1997
(In thousands except per share amounts)
Pro Forma Pro Forma
1998 1997
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BASIC EARNINGS PER SHARE
Numerator:
- ---------
Net income after effect of applying
SFAS No. 123 "Accounting for Stock
Based Compensation" $83,924 $79,394
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Denominator:
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Average number of shares of common
stock outstanding 51,558 55,164
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Basic earnings per share
$1.63 $1.44
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DILUTED EARNINGS PER SHARE
Numerator:
- ---------
Net income after effect of applying
SFAS No. 123 "Accounting for
Stock-Based Compensation" $83,924 $79,394
Denominator:
- -----------
Average number of shares of common
stock outstanding 51,558 55,164
Shares issuable upon the assumed
exercise of outstanding stock
options 623 504
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Total shares 52,181 55,668
Diluted earnings per share $1.61 $1.43
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